JB Straubel sits down with CNBC’s Phil LeBeau at Redwood Materials. Redwood Materials, the battery and e-waste recycling startup founded by former Tesla CTO JB Straubel, announced Tuesday that it has closed a $1 billion funding round to expand operations in the U.S. The company takes spent electric vehicle batteries, breaks them down, and uses… Continue reading Redwood Materials, run by ex-Tesla CTO, raises $1 billion to expand recycling operations in U.S.
Author: CNBC Online news
Nio reports wider second-quarter loss amid China slowdown and product line revamp
Nio’s ET5 stands on display at the Central China International Auto Show on May 25, 2023, in Wuhan, China. Getty Images | Getty Images News | Getty Images Chinese electric vehicle maker Nio lost $835.1 million in the second quarter, more than twice its year-ago loss as deliveries of its upscale EVs slipped amid a… Continue reading Nio reports wider second-quarter loss amid China slowdown and product line revamp
GM, Google exploring ways to use AI across automaker’s business
The GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, March 16, 2021. Rebecca Cook | Reuters DETROIT – General Motors is working with Google to explore opportunities to implement AI technologies across the automaker’s business, the companies announced Tuesday. The broad partnership around generative, or conversational, AI between… Continue reading GM, Google exploring ways to use AI across automaker’s business
Shares of BYD jump after Chinese EV maker posts 200% surge in first half profit
A BYD ATTO 3 is displayed during the British Motor Show at Farnborough International Exhibition Centre on August 17, 2023 in Farnborough, England. John Keeble | Getty Images News | Getty Images Shares of Chinese automaker BYD listed in China jump more than 5% Tuesday, a day after posting a stellar jump in first half… Continue reading Shares of BYD jump after Chinese EV maker posts 200% surge in first half profit
X, formerly Twitter, faces 2,200 arbitration cases and filing fees over $3 million
In this photo illustration, the new Twitter logo rebranded as X (X Corp.) is seen on a smartphone and Elon Musk Twitter account with the new X logo on a pc screen. Pavlo Gonchar | Lightrocket | Getty Images X, the social network formerly known as Twitter, is facing 2,200 arbitration cases that ex-employees filed… Continue reading X, formerly Twitter, faces 2,200 arbitration cases and filing fees over $3 million
Why it’s hard to find an inexpensive new car these days — just one model has an average price below $20,000
Hero Images | Getty Images It’s getting harder to find new, cheap cars, according to auto experts. Consider this: In July, just one car model — the Mitsubishi Mirage — had an average new-vehicle transaction price below $20,000, according to Kelley Blue Book data. By comparison, there were a dozen vehicles that met that pricing… Continue reading Why it’s hard to find an inexpensive new car these days — just one model has an average price below $20,000
Chinese EV startup Xpeng shares soar 13% after announcing $744 million deal with Didi
Didi launched a free robotaxi service in parts of Shanghai in 2020. Vcg | Visual China Group | Getty Images BEIJING — Chinese electric car company Xpeng said Monday it is buying Didi’s smart electric car development business in an exchange of shares worth $744 million. The Chinese ride-hailing company will become a strategic shareholder… Continue reading Chinese EV startup Xpeng shares soar 13% after announcing $744 million deal with Didi
Labor unions are pushing hard for double-digit raises and better hours. Many are winning
Members of the United Auto Workers union hold a rally and practice picket near a Stellantis plant in Detroit, Aug. 23, 2023. Michael Wayland / CNBC From writers’ rooms to car factories, workers are pressing companies for higher pay and better quality of life. Many are willing to walk off the job to get there,… Continue reading Labor unions are pushing hard for double-digit raises and better hours. Many are winning
Tesla Autopilot safety probe by federal vehicle regulators nears completion
A multiyear investigation into the safety of Tesla’s driver assistance systems by the National Highway Traffic Safety Administration, or NHTSA, is drawing to a close. Reuters’ David Shepardson first reported on the latest developments Thursday, citing NHTSA acting administrator Ann Carlson. CNBC confirmed the report with the federal vehicle safety regulators. A spokesperson for NHTSA… Continue reading Tesla Autopilot safety probe by federal vehicle regulators nears completion
UAW workers overwhelmingly vote to authorize strikes at GM, Ford, Stellantis
Striking United Auto Workers members and supporters attend a speech by Vermont Sen. Bernie Sanders outside General Motors’ Detroit-Hamtramck Assembly plant on Sept. 25, 2019 in Detroit. Michael Wayland / CNBC DETROIT – United Auto Workers members overwhelmingly granted union leaders authorization to call strikes during ongoing contract negotiations with General Motors, Ford Motor and… Continue reading UAW workers overwhelmingly vote to authorize strikes at GM, Ford, Stellantis